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ARGENX SE (ARGX.BR) Stock Fundamental Analysis

EBR:ARGX - Euronext Brussels - NL0010832176 - Common Stock - Currency: EUR

551  +16.2 (+3.03%)

Fundamental Rating

5

Taking everything into account, ARGX scores 5 out of 10 in our fundamental rating. ARGX was compared to 74 industry peers in the Biotechnology industry. The financial health of ARGX is average, but there are quite some concerns on its profitability. ARGX shows excellent growth, but is valued quite expensive already.


Dividend Valuation Growth Profitability Health

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3

1. Profitability

1.1 Basic Checks

In the past year ARGX was profitable.
ARGX had negative earnings in 4 of the past 5 years.
ARGX had a negative operating cash flow in each of the past 5 years.
ARGX.BR Yearly Net Income VS EBIT VS OCF VS FCFARGX.BR Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 500M -500M

1.2 Ratios

ARGX's Return On Assets of 17.37% is amongst the best of the industry. ARGX outperforms 100.00% of its industry peers.
Looking at the Return On Equity, with a value of 19.54%, ARGX belongs to the top of the industry, outperforming 91.89% of the companies in the same industry.
Industry RankSector Rank
ROA 17.37%
ROE 19.54%
ROIC N/A
ROA(3y)N/A
ROA(5y)N/A
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
ARGX.BR Yearly ROA, ROE, ROICARGX.BR Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 -10 -20 -30 -40

1.3 Margins

The Profit Margin of ARGX (38.03%) is better than 97.30% of its industry peers.
ARGX has a better Gross Margin (89.62%) than 87.84% of its industry peers.
Industry RankSector Rank
OM N/A
PM (TTM) 38.03%
GM 89.62%
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
ARGX.BR Yearly Profit, Operating, Gross MarginsARGX.BR Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 -500 -1K

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6

2. Health

2.1 Basic Checks

ARGX does not have a ROIC to compare to the WACC, probably because it is not profitable.
ARGX has no outstanding debt. Therefor its Debt/Equity and Debt/FCF ratios are 0 and belong to the best of the industry.
ARGX.BR Yearly Shares OutstandingARGX.BR Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 10M 20M 30M 40M 50M
ARGX.BR Yearly Total Debt VS Total AssetsARGX.BR Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 1B 2B 3B 4B

2.2 Solvency

An Altman-Z score of 41.85 indicates that ARGX is not in any danger for bankruptcy at the moment.
ARGX has a better Altman-Z score (41.85) than 98.65% of its industry peers.
ARGX has a Debt/Equity ratio of 0.01. This is a healthy value indicating a solid balance between debt and equity.
ARGX has a better Debt to Equity ratio (0.01) than 85.14% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.01
Debt/FCF N/A
Altman-Z 41.85
ROIC/WACCN/A
WACC7.37%
ARGX.BR Yearly LT Debt VS Equity VS FCFARGX.BR Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 1B 2B 3B 4B

2.3 Liquidity

ARGX has a Current Ratio of 8.53. This indicates that ARGX is financially healthy and has no problem in meeting its short term obligations.
With an excellent Current ratio value of 8.53, ARGX belongs to the best of the industry, outperforming 94.59% of the companies in the same industry.
A Quick Ratio of 7.88 indicates that ARGX has no problem at all paying its short term obligations.
With an excellent Quick ratio value of 7.88, ARGX belongs to the best of the industry, outperforming 93.24% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 8.53
Quick Ratio 7.88
ARGX.BR Yearly Current Assets VS Current LiabilitesARGX.BR Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 1B 2B 3B 4B

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8

3. Growth

3.1 Past

ARGX shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 133.66%, which is quite impressive.
The Revenue has grown by 23.38% in the past year. This is a very strong growth!
Measured over the past years, ARGX shows a very strong growth in Revenue. The Revenue has been growing by 94.61% on average per year.
EPS 1Y (TTM)133.66%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%155.36%
Revenue 1Y (TTM)23.38%
Revenue growth 3Y63.92%
Revenue growth 5Y94.61%
Sales Q2Q%82.18%

3.2 Future

ARGX is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 88.25% yearly.
ARGX is expected to show a strong growth in Revenue. In the coming years, the Revenue will grow by 28.99% yearly.
EPS Next Y513.72%
EPS Next 2Y234.84%
EPS Next 3Y137.37%
EPS Next 5Y88.25%
Revenue Next Year60.95%
Revenue Next 2Y45.7%
Revenue Next 3Y36.94%
Revenue Next 5Y28.99%

3.3 Evolution

Although the future Revenue growth is still strong, it is not able to hold up the even more excellent growth rate of the past years.
ARGX.BR Yearly Revenue VS EstimatesARGX.BR Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 2B 4B 6B 8B 10B
ARGX.BR Yearly EPS VS EstimatesARGX.BR Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 0 20 40 60 80

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3

4. Valuation

4.1 Price/Earnings Ratio

ARGX is valuated quite expensively with a Price/Earnings ratio of 346.54.
Based on the Price/Earnings ratio, ARGX is valued a bit cheaper than 75.68% of the companies in the same industry.
Compared to an average S&P500 Price/Earnings ratio of 28.90, ARGX is valued quite expensively.
ARGX is valuated quite expensively with a Price/Forward Earnings ratio of 56.51.
Compared to the rest of the industry, the Price/Forward Earnings ratio of ARGX indicates a somewhat cheap valuation: ARGX is cheaper than 77.03% of the companies listed in the same industry.
The average S&P500 Price/Forward Earnings ratio is at 21.58. ARGX is valued rather expensively when compared to this.
Industry RankSector Rank
PE 346.54
Fwd PE 56.51
ARGX.BR Price Earnings VS Forward Price EarningsARGX.BR Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 100 200 300

4.2 Price Multiples

Industry RankSector Rank
P/FCF N/A
EV/EBITDA N/A
ARGX.BR Per share dataARGX.BR EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 20 40 60

4.3 Compensation for Growth

The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
ARGX's earnings are expected to grow with 137.37% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.67
PEG (5Y)N/A
EPS Next 2Y234.84%
EPS Next 3Y137.37%

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0

5. Dividend

5.1 Amount

ARGX does not give a dividend.
Industry RankSector Rank
Dividend Yield N/A

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ARGENX SE

EBR:ARGX (3/14/2025, 7:00:00 PM)

551

+16.2 (+3.03%)

Chartmill FA Rating
GICS SectorHealth Care
GICS IndustryGroupPharmaceuticals, Biotechnology & Life Sciences
GICS IndustryBiotechnology
Earnings (Last)02-27 2025-02-27/bmo
Earnings (Next)05-08 2025-05-08/bmo
Inst Owners39.35%
Inst Owner ChangeN/A
Ins Owners0.12%
Ins Owner ChangeN/A
Market Cap33.48B
Analysts78.4
Price Target658.04 (19.43%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)7909.56%
Min EPS beat(2)-38.07%
Max EPS beat(2)15857.2%
EPS beat(4)2
Avg EPS beat(4)3984.41%
Min EPS beat(4)-38.07%
Max EPS beat(4)15857.2%
EPS beat(8)5
Avg EPS beat(8)2003.12%
EPS beat(12)8
Avg EPS beat(12)1344.81%
EPS beat(16)12
Avg EPS beat(16)1027.8%
Revenue beat(2)2
Avg Revenue beat(2)6.37%
Min Revenue beat(2)5.75%
Max Revenue beat(2)6.99%
Revenue beat(4)3
Avg Revenue beat(4)5.41%
Min Revenue beat(4)-0.25%
Max Revenue beat(4)9.17%
Revenue beat(8)7
Avg Revenue beat(8)7.53%
Revenue beat(12)11
Avg Revenue beat(12)27.61%
Revenue beat(16)14
Avg Revenue beat(16)43.67%
PT rev (1m)1.45%
PT rev (3m)11.84%
EPS NQ rev (1m)20.05%
EPS NQ rev (3m)46.7%
EPS NY rev (1m)3.88%
EPS NY rev (3m)64.44%
Revenue NQ rev (1m)6.24%
Revenue NQ rev (3m)15.01%
Revenue NY rev (1m)4.05%
Revenue NY rev (3m)21.21%
Valuation
Industry RankSector Rank
PE 346.54
Fwd PE 56.51
P/S 16.64
P/FCF N/A
P/OCF N/A
P/B 8.55
P/tB 8.85
EV/EBITDA N/A
EPS(TTM)1.59
EY0.29%
EPS(NY)9.75
Fwd EY1.77%
FCF(TTM)N/A
FCFYN/A
OCF(TTM)N/A
OCFYN/A
SpS33.1
BVpS64.42
TBVpS62.28
PEG (NY)0.67
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 17.37%
ROE 19.54%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) 38.03%
GM 89.62%
FCFM N/A
ROA(3y)N/A
ROA(5y)N/A
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
F-ScoreN/A
Asset Turnover0.46
Health
Industry RankSector Rank
Debt/Equity 0.01
Debt/FCF N/A
Debt/EBITDA N/A
Cap/Depr N/A
Cap/Sales N/A
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio 8.53
Quick Ratio 7.88
Altman-Z 41.85
F-ScoreN/A
WACC7.37%
ROIC/WACCN/A
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)133.66%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%155.36%
EPS Next Y513.72%
EPS Next 2Y234.84%
EPS Next 3Y137.37%
EPS Next 5Y88.25%
Revenue 1Y (TTM)23.38%
Revenue growth 3Y63.92%
Revenue growth 5Y94.61%
Sales Q2Q%82.18%
Revenue Next Year60.95%
Revenue Next 2Y45.7%
Revenue Next 3Y36.94%
Revenue Next 5Y28.99%
EBIT growth 1Y97.67%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year670.86%
EBIT Next 3Y191.75%
EBIT Next 5Y115.14%
FCF growth 1YN/A
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1YN/A
OCF growth 3YN/A
OCF growth 5YN/A